FHA is for sure not going to be an option for him, last option is purchasing from an investor with owner financing, or lease to own program where he will not need traditional financing. 

Honestly, I've given up on finding cashflow anywhere close to the city due to rates and prices, BUT some other opportunities you may want to consider are:Live in flip - mentioned earlier in this thread, always a solid option in any market.Condo conversions - good money to be made from this and since they're a little trickier than a traditional flip there tends to be more inventory available that would allow for a profit.ADUs - come February 2nd, ADUs are allowed BY RIGHT on any SF property in the state, owner occupied or not.

While traditional loans might be tough with current interest rates and no W2s, there are definitely creative financing options and strategies to consider.One possibility is exploring seller financing.

Quote from @Henry Clark: Quote from @Jake Andronico: Quote from @Arn Cenedella: @Jake AndronicoI’ve looked into them but have never executed one.Let me say they will be expensive and complicated.I think what you will find if one is trying to defer $50,000 to $100,000 in gain, it’s not going to be worth the time and trouble.On the other hand, if client is trying to defer gain of $500,000 to $1,000,000, it’s worth the time and trouble.I use First American Exchange for my own account a dozen times and they have been right on the money.Google them and reach out.ArnIt's definitely more expensive than a traditional 1031 exchange, but being able to secure properties upfront can be super convenient.   

But I’ve never personally invested in real estate using business credit more traditional for my first property, so I’m always curious when clients say they want to use this funding for a real estate deal.Here’s where I get stuck:Real estate deals can be risky, especially if the project takes longer than 12 months to close or unexpected costs pop up.With prices climbing, it feels like the margin for error is smaller than ever.Would you recommend someone use business credit to invest in real estate?

Is there a reason why you are set on a traditional duplex? 

Quote from @David Martoyan: Has anyone here successfully adjusted their strategy to focus on finding deals that don’t follow the traditional ARV formula?

Quote from @Christian Bobby McLemore: You're 21 and you've been building houses your whole life?

In a traditional MLS sale, there are realtor fees, there can be concessions, there can be work orders and delays. 

A couple of years back they even cancelled holiday lights traditionally displayed in a large local park.